The ever-evolving landscape of supply chain trends
The ever-evolving landscape of supply chain trends
Businesses have not remained immune to the waves of challenges brought forth by the pandemic. Across sector lines and international boundaries, organizations have had to innovate to survive the new normal and, eventually, thrive.
The New Normal
From supply chain constraints to repeated halts in operations, businesses have had to contend with an array of bottlenecks during this unprecedented time ridden with a global pandemic and the war in Ukraine. One of the major trends to emerge has been organizations’ increasing reliance on technology and digital procurement.
Since every link in the value chain has been adversely affected due to a host of reasons, including supply-side shortages, demand-side stagnation, and a general environment of uncertainty, the path to recovery has been forged with equal parts resilience and restraint.
Upcoming Supply Chain Trends for 2022
Due to the dynamic nature of the supply chain, the trends are ever-evolving and hence unpredictable. However, here are some of the key supply chain trends that surfaced in 2021 and are expected to stay true in 2022:
Widening the value chain basket: One of the main learnings for organizations during the pandemic is the lacunae caused by overreliance on one or two supply chain partners. Businesses are increasingly putting their eggs in different baskets by collaborating with a wider range of suppliers, marketers, and distributors. Though this means increased business coordinations, negotiations etc. across the value chain, organizations that enable seamless digital procurement have come to the industries rescue through their ability consolidate scattered vendor base on a single platform
1. Technology and automation to the rescue: In the wake of the pandemic, businesses are emphasizing leveraging technology to achieve higher accuracy in demand forecasting, production planning, and marketing strategy. Artificial Intelligence and Machine Learning are increasingly being applied to ensure minimal disruptions in the supply chain. Data generated with the help of these emerging technologies are being constantly employed to identify potential areas of growth in business.
2. Building resilience against the global logistics disruption: The widespread disruption of the global logistics chain has caused businesses severe headaches and compelled them to build resilience to production delays, raw material shortfalls, and extremely volatile demand trends. This has driven a drastic restructuring of the supply chain for the better.
3. Supply Chain Trends in the UAE
Being a key member of the GCC, the UAE has robust free trade associations with several countries. In addition to this, the country has bilateral trade agreements with India, The Netherlands, etc. Recently, UAE announced its intention to deepen its ties with growing economies. Some of its business negotiations with countries like India, Turkey, and Indonesia seem to indicate a positive trend in this direction.
Some of the recent supply chain trends in the الإمارات العربية المتحدة are:
- A rise in the prominence of e-commerce and related logistics
- Growth of the pharmaceutical sector
- Easing of duties on import-exports
- Growth of bilateral agreements for trade
The Foreign Trade Ministry of UAE feels that these trade pacts are bound to increase foreign direct investment and enhance business growth in terms of volumes.
Choose Moglix To Stay Ahead of the Curve
The outlook for the UAE logistics market seems to hint at a robust 6.5% CAGR projection for the period of 2022-2027. With supply chain trends picking up pace in what we see as a potential post-pandemic world, it is important for businesses to stay ahead of the curve in order to maximize value.
If you are looking to transform your supply chain and focus on digital procurement, Moglix can help you stay ahead of the curve. We aim to optimize strategic procurement and bring in supply chain efficiency for organizations across various sectors, including manufacturing, infrastructure, and Oil and Gas in the UAE.
Equipped with what is said to be future facing technology and dynamic capabilities such as Integrated Procurement Solutions, Automated Workflows, and Catalog-Based Buying, Moglix ensures that you can take your organization’s operations to the next level by enhancing efficiency and maximizing cost-effectiveness. Visit our website to know more.
Strategies To Address Procurement Woes In a Volatile Supply Chain Market (Turning Chaos Into Control)
Strategies To Address Procurement Woes In a Volatile Supply Chain Market (Turning Chaos Into Control)
Part Two – The Solutions
As discussed earlier in part 1 of this blog, the global COVID-19 pandemic and ongoing war have forced organizations to withstand a highly volatile supply chain environment. The prevailing procurement environment is costlier due to the exponential rise in the cost of shipping and increased operational costs. In addition to these reasons, continuing exclusive use of the existing legacy technologies and switching to spot bidding for logistics by the organizations are adding burden to the businesses. As a wise option for surviving the highly volatile supply chain environment, businesses should turn their focus to digital procurement and technology.
From Chaos to a Semblance of Control
Faced with an array of challenges, including higher costs of freight, reduced revenue, extreme pressure on bottom lines, and persistence with obsolete legacy systems, businesses are increasingly turning to technology and digital procurement to ensure their supply chain and sourcing strategies can keep up with the high volatility of the market.
Here are some of the solutions businesses are adopting to attain excellence in their logistics management.
1. Evolution, Adaptation, and Responsiveness: A high degree of volatility in the supply chain and the business environment calls for a correspondingly high degree of adaptation on the part of businesses. This is why most businesses are switching to Dynamic Market Sourcing.
As opposed to Traditional Cycle Sourcing, its dynamic counterpart enables organizations to constantly assess the market, have better communication with their supply chain partners, and manage the ever-changing landscape of freight costs, and the influx of new suppliers.
2. Leveraging technology to stay ahead of the curve: In this day and age, businesses are largely driven by data. With high fluctuations on the demand and supply side alike, businesses must leverage technology and data-based insights to be as dynamic and adaptive as possible.
From better demand forecasting to an increased emphasis on automation, there are myriad ways through which the challenges of a highly volatile supply chain can be met head-on and with success.
3. Risk management: Risk is an integral facet of any business, and the higher the accuracy of risk assessment is, the higher an organization’s chances to mitigate risks in an efficient manner. One of the key strategies in managing supply chain-related risks is having multiple suppliers instead of one or two.
Another solution is to always be prepared by analyzing market trends and conducting what-if analyses. This way, your organization can be well placed to deal with a high-risk situation. Risk assessment is, in many ways, akin to an airbag in a vehicle. It protects your business from potential crashes.
The Future of Supply Chain
You can now bring digital procurement to the forefront of your business and excel in a highly volatile supply chain environment by relying on Moglix’s Integrated Procurement Solutions, Automated Workflows, and Catalog-Based Buying Solutions, amongst others, to revolutionize your business’s approach to logistics. To know more, visit our website.
Strategies To Address Procurement Woes In a Volatile Supply Chain Market (Turning Chaos Into Control)
Strategies To Address Procurement Woes In a Volatile Supply Chain Market (Turning Chaos Into Control)
Part One: The Challenges
Change is the only constant and the global COVID-19 pandemic had brought this universal truth home in an unprecedented manner. Businesses across the globe had found themselves faced with severe supply chain and sourcing challenges, leading to higher volatility and higher risk. In the face of such bottlenecks, traditional approaches to supply chain and logistics management were no longer effective or feasible.
Viability amidst volatility
It is no secret that one of the things that make businesses thrive is stability in processes. The pandemic and the ongoing war, however, disturbed the very foundations of stability and compelled organizations to withstand a highly volatile supply chain environment. Here are some of the challenges faced in the prevailing procurement environment:
1. Building capacity is now costlier: One of the main characteristics of the present sourcing market is the exponential rise in the cost of shipping. The rise in container freight and air freight has made it drastically difficult for businesses to build and sustain capacity and stability. For instance, before the pandemic struck the world, the freight for the China to USA route was around $1,500 (for a 40-foot container). This price is now anywhere between $10,000 to $15,000, making it financially nonviable.
2. Preserving the bottom line is now harder: With the rising cost of materials as well as shipping costs, organizations are increasingly grappling with higher operational costs. The problem is exacerbated by the constant decline in demand and, in turn, revenues. The combined effect is a significant drop in the bottom line of organizations.
3. Continuing with Legacy technologies: At a time when digital procurement is being looked at as a key driver to solve businesses’ supply chain woes, several organizations are still continuing with old and obsolete legacy systems. Not only are those systems time-consuming and cost-heavy, but they are also non-responsive to factors such as price compression, capacity changes, etc.
4. Switching to spot bidding for logistics: Traditionally reliant on annual freight contracts with low prices, businesses now have to manage the necessary switch to spot pricing in logistics. The restrictions in the capacity and movement of air cargo in the wake of the pandemic have brought spot price bidding to the fore, placing a higher than ever before pressure on their operational costs.
The Bottom Line
In order to survive and thrive amidst a highly volatile supply chain environment, businesses must turn to digital procurement and technology. This is where Moglix can help you transform your business through our Catalog Based Buying, Automated Workflow, Enhanced Visibility, and Integrated Procurement Solutions. Know more on our website.
Moglix – Reimaging manufacturing infrastructure in the UAE
Moglix – Reimaging manufacturing infrastructure in the UAE
UAE lies at the crossroads of the manufacturing supply chain routes that crisscross across the world. Technology penetration in the Middle East region has already attained a threshold level which is visible from the success of B2C e-commerce. So, technology adoption is not a challenge. Rather the challenges we have been resolving in the Middle East are those related to limited product assortment of suppliers, costs of distribution, warehousing, and logistics, and enabling manufacturers realize their mandate for creating end-customer value.
Since launching in the UAE, we have channeled existing partnerships to secure symbiotic collaborations across manufacturers, suppliers, distributors, specialists, and consultants. The B2B e-commerce platform, moglix.ae, provides a catalog of over 500,000 industrial products spanning 50+ categories. It provides insights on metrics like the expected time of arrival, lead time, and the turnaround time. Such data enables agility at scale in procurement decision-making frameworks for customers and suppliers. They ensure that end-to-end supply chains can withstand macroeconomic shocks and disruptions.
Silver bullet to mitigate Supply Chain Disruptions
Silver bullet to mitigate Supply Chain Disruptions
The manufacturing sector in the middle east, prior to the pandemic, relied on a highly fragmented supplier base, and with a few exceptions, it wasn’t standard practice to replace the many suppliers with a few or just one. A manual and relationship-led procurement and supplier management process meant limited adoption of digital tools such as ERP systems. COVID-19, though has been an epic tipping point for the intense digital transformation of the supply chain industry in the Middle East region.
According to market analysts Ventures Middle East, digital transformation initiatives in supply chain have become increasingly powerful and businesses that make use of it are expected to stay resilient. The Gulf Cooperation Council (GCC) countries are expected to continue to invest heavily in digital transformation solutions in supply chain as it tries to enhance its position as a hub for international commerce in a pandemic scenario as well.
Well-planned and well-implemented digital transformation offers the opportunity to leapfrog to a new, digitally-enabled future ahead of competition, crises, and most importantly, customer expectations.
Next for Digital Supply Chain Transformation: Connectivity, Convenience, and Analytics
The dramatic shift towards a digital supply chain has been all too evident post-pandemic, with a full realization that it not only makes them more competitive and resilient – there is also an economic upside.
The India-UAE CEPA: A Progressive Step
The India-UAE CEPA: A Progressive Step
Inked on February 18, 2022, the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates (UAE) and India is a massive leap forward in the bilateral trade relations between the nations. The agreement is set to usher in a plethora of benefits for both the signatories.
What is The India-UAE CEPA?
The India-UAE CEPA is a bilateral free trade agreement between the nations that came into effect on May 1st, 2022. The CEPA has been envisaged as raising the total bilateral trade between the nations from $60 billion to $100 billion (for goods) and $15 billion (for services) over a five-year period.
With the CEPA coming into effect, there is set to be growth in the total value of bilateral trade as well as benefits in terms of technology exchange, movement of natural persons, government procurement, dispute redressal, and digital procurement, to name a few.
In addition to advantages on the economic front, the India-UAE CEPA is set to drive improvement in access to education, environmental protection measures, cultural exchange, etc. The landmark trade agreement has been projected to generate jobs in excess of 1 million across various sectors, for instance, agriculture, jewelry, and pharmaceuticals.
The Benefits of the CEPA for the UAE
The CEPA between the UAE and India is set to usher in the following significant benefits for the former.
1. Greater access to the Indian Market: The CEPA will provide more than 100 sub-sectors in the UAE access to the Indian market vis-a-vis the trade of goods and services. The UAE is set to gain preferential access on more than 90% of India’s tariff lines, particularly those related to exports.
2. Enhancement of Food Security: The agreement is a pivotal measure to address the UAE’s issues pertaining to food security. Through the establishment of a ‘Food Security Corridor Initiative’, there will be a comprehensive partnership and strategic procurement to improve the country’s logistical network for food.
3. Collaboration in the Education Sector: The CEPA also has provisions for collaborations between nations in the education sector. One of the cornerstones of this collaboration shall be the establishment of a first-of-its-kind Indian Institute of Technology on foreign soil – in the UAE.
4. Strategic Partnerships in التكنولوجيا Sharing: The India-UAE CEPA has also been envisaged as a harbinger of an increased sharing of technological know-how and infrastructure between the signatory nations.
Choose a Consummate Player to Optimize your Procurement Process
The India-UAE CEPA is a significant step forward in the bilateral trade ties of the nations. And manufacturers and exporters in the UAE and India alike can benefit from access to a bigger and more diversified market, profitable strategic partnerships, and sharing of tech initiatives and innovations. A future focused organization like Moglix with its tech led B2B supply chain ecosystem can play a pivotal role in welcoming CEPA to the next phase of growth. To know more about how Moglix can augment and optimize the procurement process, click here.
The Global Supply Chain Crisis: What’s in store for 2022?
The Global Supply Chain Crisis: What’s in store for 2022?
We wish there was good news. We wish there were even regular news. Alas, as we have gone deeper into 2022, our crystal ball does not have the clarity to report. Just as we’re hoping that we are seeing the back of COVID19 disruptions in global economic trade, supply chain, and logistics, we can already see new crises on the horizon.
Market Sentiment, Challenges, and the Supply Chain Connect
Last week, the International Monetary Fund (IMF) downgraded its global economic growth forecast by half a percent to 4.4. In doing so, it cited supply chain issues as a primary reason that is pulling the optimism around growth downward.
It’s not that the pandemic-related issues are simply going to vanish, but that the fragility of our supply chain ecosystem stands exposed. We also heard of COVID19 shutdowns in China, a vital piece of the global supply chain jigsaw puzzle. Expect the unexpected.
The world is also acutely aware of the conflict in Eastern Europe and its implications on global supply chains. The cross-border war has fractured the global manufacturing supply chain community into diverse groups, impacting import-export schedules, and affecting embargos, trade routes, and more.
On the other hand, the standoff between the two major economies of Asia is adding to the woes of local manufacturers and suppliers. It has given rise to a race – to gain supremacy and control on the best maritime trade routes to enable predictable, safe, and cost-effective movement of goods.
The 4Ms of Global Supply Chain Diversification as a Response
In short, we could all use a breather. A 4-M model could provide respite for organizations exposed to the intricacies and lack of predictability in the supply chain.
- Multi-Commodity: It is time for organizations to look at a broader range of products to diversify risk and tide over difficult times. By going wide and searching for alternatives, we can insulate ourselves against geopolitical risk and region-specific blockades to a more considerable extent.
- Multi-Supplier: As the name suggests, manufacturers should look at a broader supplier base for the same materials. While this may seem counter-productive for vendor management, the risk of receiving critical supplies from a select group of vendors is more dangerous.
- Multi-Modal Logistics – We must look at a more flexible and robust combination of logistics modes rather than depend on the tried and tested formula. The choice between air, land, and sea must be balanced to avoid last-minute surprises.
- Multi-Routes – Organizations are advised to select a combination of safer routes (green/yellow classifications) to ensure supplies emanating from different geographical areas do not face disruption.
In essence, in the coming years, businesses need to be resilient and flexible so they can be better at anticipating, reacting, planning, and recalibrating against the unexpected by developing long-term strategies and solutions; and enabling cross-functional integration and collaboration within their ecosystem of vendors.
Understanding the depth of your procurement and supply chain database by automating the collection, integration, analysis, reporting, alerting, and visualization of your supply chain data can help you recognize risk early and actually do something about it.
To experience an increased visibility and transparency in your operation process, let your sourcing and procurement teams have access to real-time visibility and data so they can be gung-ho!
Avengers Assemble: Manufacturing Technologies as Superheroes
Avengers Assemble: Manufacturing Technologies as Superheroes
While the future of manufacturing is endless; today UAE is at the helm of all digital transformations and an emerging manufacturing leader from the COVID19 pandemic endgame within the Middle East and North Africa (MENA) region. Just like Avengers are a group of superheroes working together – that defines an individual collaborative ‘single platform’ solution, Batman is the new kid in the manufacturing block leading the forces towards the technological future we deserve.
While there are multiple competitive businesses rising within the horizon, like a phoenix born to life, manufacturing ‘futuristic’ technologies just like the Marvel series is an individual solution for all manufacturing supply chain management needs.
The UAE Economic Vision 2030 seeks to shed this tag. As the world grapples with the aftermath of the pandemic, UAE aims to invest more in adopting advanced technologies to establish itself as a world-class manufacturing hub for decades to come. The Government has an ambitious aim to increase the contribution of manufacturing in the GDP from 11% to 25%. It seems that this enormous task befits the Avengers from the Marvel Cinematic Universe.
The Avengers Assemble: Know the Start Cast of Manufacturing Technology Superheroes
Dubai’s commitment to adopt the latest manufacturing technologies like artificial intelligence, machine learning, 3D Printing, and Smart Manufacturing is directly responsible for its rise as a global technology and innovation hub. This blog aims to equate these cutting-edge technologies to pop culture Avenger superheroes. The UAE seeks to assemble an ensemble cast that ushers in a new era of success.
Smart Helmets/3D printing – Enter Iron Man
Dubai is one of the world’s foremost travel hubs, with nearly a billion footfalls every year. The pandemic posed a considerable challenge to ensure proper safety protocols and healthcare access. Just like Iron Man has a Jarvis-enabled helmet, Dubai equipped staff with thermal helmets that allowed them to scan more than 200 travelers per minute. Innovative 3D printing technologies ensured there was no shortage of face shields. Just like Iron Man likes to tinker in his lab, Dubai is fast becoming a hub for product design and digital transformation.
4th Industrial Revolution (4IR) – Age of Ultron
A global revolution was exactly what Ultron had planned. The Ministry of Industry and Advanced Technology push is instrumental in the set-up, deployment, and investment into AI/ML, robotics, big data, and alternative energy sources. 4IR is also directly linked to supply chain efficiency and resilience. Talent and skilled resource development are also a must if the UAE is serious about creating the type of impact that Ultron had envisioned.
Laser Testing and Processing – Vision for a Vision
Dubai and the large cross-section of UAE geographies are fast building a reputation as a source for precision engineering and laser testing. The credibility set can help unlock the true potential of industry hubs like energy, chemicals, plastics, metals, heavy manufacturing, healthcare and electrical equipment, with a renewed focus on agri-tech, biotech, advanced manufacturing and space.
Digital Procurement akin to the Silver Surfer
It is essential to connect unto our conversations to measure RoI, social impact, and sales tools that enable you to go out individually. Catalog-based buying, digitalization of data, and procurement operations are the long-term answers, especially after the last two years of supply chain disruptions. Just like the Silver Surfer possesses speed, agility and the ability to harness limitless energy, digital procurement platforms will help UAE bring supply chain transformation to introduce deep tech investments over the next ten years.
What’s Next for the Avengers Assemble? A Window to the UAE in 2032
The UAE economy has expanded 57 times in the last five decades, rising from Dh6.5 billion to about Dh353.90 billion in 2020, on the back of burgeoning services and industries. And as the recently-released Dubai 2040 urban development master plan suggests, there will be continued investment in physical infrastructure as well, including transport, housing and leisure facilities to improve the quality of life for residents and to make Dubai a desirable place to live and work in the coming decades.
The UAE has been adopting new technology for greater digital advancement and applying it well in various sectors. And as digital integration takes the center stage, the UAE will continue to move towards and adopt collaborative ways of working in procurement and B2B commerce.
Moglix is an Asia-based B2B commerce company specializing in the e-procurement of industrial products. We provide digital procurement and supply chain solutions across industries, such as FMCG, Healthcare, Construction, Oil & Gas, Metal & Mining among others. To know how your enterprise can unlock the benefits of new-age technology-driven procurement and supply chain solutions from Moglix, visit https://business.moglix.ae/contact-us/
Have You Explored These Performance Enablers for Your Procurement Team?
Have You Explored These Performance Enablers for Your Procurement Team?
While the world is still seemingly adapting to the rapid digital advancements, post-pandemic, there has been an even greater push on digitization to take center stage in procurement teams. This change has encouraged companies to remake their supply chains and is poised to think about how digital transformation plays a vital role in how the procurement function delivers value.
According to a recent study by WBR Insights, most procurement leaders in the middle east are investing less than 50% of their budgets in future technologies like artificial intelligence (AI), machine learning (ML), robotic process automation (RPA), cognitive procurement tools and more.
Strategic sourcing is becoming more predictive, transactional procurement is becoming more automated, and supplier relationship management is becoming more proactive.
A report by Gartner stated that more than 70% of sourcing and procurement professionals report using suppliers to tap into new-in-kind technology services and something outside their organization’s core business model.
Procurement is all set to become seamless and frictionless like never before, especially in the UAE. The recent announcement of the ‘Centennial 2071 project’ plans to make UAE the best country in the next 50 years and hopes to enable future generations to live a happier life with a better overall environment, more significant growth opportunities, and stronger communication links with the world. The Centennial 2071 project will focus on four core aspects: Economy, Education, Government Development, and Community Cohesion.
As the competition rises with new players entering the supply chain race, Middle Eastern businesses have a more significant advantage over existing businesses. With the help of futuristic strategies investing in new supply chain concepts and virtual or digital enablers can place them at the helm of digital innovation within a shorter turnaround time and a significant possibility of growth.
Let’s Look at Some Enablers Accelerating Procurement Performance in the UAE:
e-Procurement
e-Procurement or purchase-to-pay technology is used to make the order-delivery supply chain frictionless, contactless, and paperless. It has always existed within the market as a value-add to an on-premise enterprise resource planning (ERP) system.
e-Procurement has grown its utilities a lot more exponentially today to help procurement processes. It integrates and automates the entire back-office lifecycle of requisitioning, purchasing, receiving, paying, and accounting for indirect goods and services.
In the future, e-Procurement will increasingly leverage artificial intelligence, natural language processing, and robotic procurement automation to leverage technology into customizing the buying experience while cutting costs, increasing efficiency, reducing risk, and improving governance and insight on the internal operations. e-Procurement solutions in the UAE will be more open, network-oriented, autonomous, collaborative, and intelligent.
Catalog Based Buying
Procurement catalogs provide information about the items and services that company employees can order for internal use. While this is a very advanced way to strategically manage the overall inflow of spending, on the user end, it also gives the customer a broader and much more appealing range of products to pick.
In the future, intelligent cloud-based procurement platforms will lead to a more vertically integrated analysis, better support for CPOs, and efficient sourcing strategies. This digital transformation will elevate the procurement technologies providing business owners access to previously unavailable metrics.
Artificial Intelligence
A 2019 report on the ‘Government Artificial Intelligence Readiness Index’², which examined over 190 countries worldwide to determine its rankings, has also placed UAE at the top of the Arab world for its readiness to adopt Artificial Intelligence (AI) technologies.
Today UAE accounts for accelerated growth in AI and is estimated to account for 13.6% of GDP by 2030. With the announcement in October 2017, the UAE Government launched ‘UAE Strategy for Artificial Intelligence (AI)’ to boost government performance at all levels, especially the procurement business vertical. With the help of an integrated intelligent digital system, companies can now overcome challenges and provide quick, efficient solutions. Make the UAE the first in AI investments in various sectors. Another 2018 study by McKinsey projects that by 2030, 45% of existing work in the Middle East has the potential of being automated.
Machine Learning
Machine Learning has evolved from the study of computational learning theory and pattern recognition and has become a technology innovation that allows businesses to evaluate and make better decisions. It will enable the procurement businesses to predict outcomes and results based on models and algorithms.
It helps automate collecting, cleaning, classifying, and analyzing expenditure data in an organization. This is the key to identifying savings or paths to greater efficiency.
“A procurement VPA can improve the end-user experience of traditional procurement tools and increase spending under management by guiding people to the correct purchasing tool,” said Magnus Bergfors, research director at Gartner. “A CPA can provide summaries, recommendations, and advice in everything from supplier assessments and performance management, to risk management and compliance.”
Digital Track and Trace of Logistics
In the supply chain industry, track and trace identify the past and present locations of all product inventory and its entire product history. This technology enables a product’s (current) status to be captured through the value chain and to identify and verify its path retrospectively. Digital track and trace help businesses manage all operations and oversee execution at all levels; this means more proximity and less assumption of executed results leaves some to no margin of error.
The Future of Procurement
As digital supply chain transformation takes the lead in the UAE, businesses need to strategically re-evaluate to harness new technologies to become more agile and resilient. Sourcing and procurement are crucial for supply chain acceleration, increasing business value. Given the changing world, sourcing and procurement play an integral role in unlocking new value from the supply base and protecting the organization from future disruption.
Moglix is an Asia-based B2B commerce company specializing in the e-procurement of industrial products. We provide digital procurement and supply chain solutions across industries, such as FMCG, Healthcare, Construction, Oil & Gas, Metal & Mining among others. To know how your enterprise can unlock the benefits of new-age technology-driven procurement and supply chain solutions from Moglix, visit https://business.moglix.ae/contact-us/
Moglix raises USD 250 Million at USD 2.6 Billion valuation
Moglix raises USD 250 Million at USD 2.6 Billion valuation
Dubai, UAE: Moglix has raised $250 Million in its latest Series F funding round, at a valuation of $2.6 Billion. This investment was led by Tiger Global and Abu Dhabi-backed Alpha Wave Global with Hong Kong-based Ward Ferry coming on board as a new investor. Early investors, who had invested in Moglix during the seed stage have seen an 80X return on their investment in this B2B commerce pioneer.
One of India’s largest and fastest-growing B2B Commerce companies, Moglix provides solutions to more than 500,000 SMEs and 1000+ large manufacturers across India and the UAE. Moglix has a supply chain network of 16,000+ suppliers, 40+ warehouses, and logistics infrastructure. Moglix works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. In May 2021, Moglix became the first B2B Commerce unicorn in the manufacturing sector, raising $120 Million.
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